Marketing Research 1

 Information that has already been collected for another purpose. Marketing Research2

 Internal ◦ Collected within your firm ◦ Sales, personnel turnover, profit record, etc.  External ◦ Collected outside the firm ◦ Three types  Published:  For public use  From gov’t, nonprofits, trade orgs, companies  Standardized/Syndicated  Standardized reports  Usually subscription basis  Databases  Bank of information e.g. Proquest, LexisNexis, Dialog Marketing Research3

 Quick  Easy access  Free or relatively inexpensive  Avoid “reinventing the wheel” Marketing Research4

 Not exactly what you need ◦ e.g. income per household instead of per person  May be old ◦ Takes time to get collected and posted  Difficult to assess quality ◦ Poorly gathered research worse than none at all  Definitions/constructs may vary ◦ E.g. categories of charitable donations Marketing Research5

 Fact finding ◦ Demographics, product use, trend analysis, market tracking, environmental scanning  Model building ◦ Relationships between variables ◦ Market potential, sales forecasts  Data mining ◦ Computer driven analysis of large databases seeking meaningful patterns ◦ Market basket analysis, sequence analysis Marketing Research6

 What was the purpose of the study?  Who collected the data?  What data were collected?  How?  Does it fit with other findings? Marketing Research7

 Two kinds: ◦ Syndicated: all subscribers get same info  Pros: cheaper, quicker, higher quality than own  Cons: no control, no advantage, contracts ◦ Standardized services: researcher follows same process but data varies by firm  Pros: cheaper, quicker, higher quality than own, more custom than syndicated  Cons: can’t customize Marketing Research8

 Assess consumer attitudes  Define markets ◦ Geodemographics (geog + demog + psych) ◦ Grouping consumers (Goldfarb; VALS2)  Track market variables ◦ Store scanner data ◦ Home diaries, scanners  Monitor media use/effectiveness ◦ Nielsen, Arbitron, Roper Starch, Simmons  Single source data ◦ Media + purchases Marketing Research9

 SecondaryData.com  LexisNexis: ◦ subscription-based  Proquest: access from library homepage ◦ variety of databases including ABI Inform  Statistics Canada: ◦ Marketing Research10

 Online forums, reviews, etc.  People post reviews for others to see ◦ Amazon.com (or.ca) ◦ tripadvisor.com  A researcher can simply “tap into” that ◦ e.g., Online restaurant reviews Marketing Research11

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